Jamaica Stock Exchange Announced Launching Its Own Crypto Platform
August 15, 2018
Jamaica Stock Exchange (JSE) has signed a partnership memorandum with Blockstation blockchain startup with the view to join efforts and create their own crypto trade platform.
“The end game at the end of the day is to trade tokens, the end game is smart contacts, the end game is to provide that area of the market that would like this product, to start to do so in a secure manner”, JSE head Marlene Street Forrest said.
She explained, under this project JSE is going to provide access to its infrastructure for the platform. Street Forrest also added that the stock exchange does not rule out the possibility of creating its own cryptocurrency in the years to come.
Co-founder of Blockstation and the startup’s chief architect Jai Waterman told, joint efforts by the company and JSE began about a year ago and they have developed a prototype of the future exchange for now. He noted that the platform will adopt some regulatory instruments as JSE demands:
“Our mission is to provide … a secure method of trading cryptocurrencies with broker-dealers and stock exchanges," he said. "We're providing the stock exchange the technology for a broker-dealer network and repository, so that from end-to-end, their life cycle of trading – just like with securities – they can do the exact same thing with blockchain and cryptocurrencies”.
Street Forrest added, launching the platform may occur by the end of the year but JSE is not in a hurry. As she put it, the top priority for the exchange now is to provide high reliability of the platform for its would-be customers.